Factor in United States
Factor Definition
An agent employed to sell goods or merchandise consigned or delivered to him, by or for his principal, for a compensation, commonly called “factorage” or “commission.” Paley, Ag. 13; 1 Livermore, Ag. 68; Story, Ag. § 33; Comyn, Dig. “Merchant” (B) ; Malynes, Lex. Merc. 81; Beawes, Lex. Merc. 44; 3 Chit. Com. Law, 193; 2 Kent, Comm. (3d Ed.) 622, note (d) ; 1 Bell, Comm. 385, §§ 408, 409; 2 Barn. & Aid. 143. A domestic factor is one who resides in the same country with his principal. A foreign factor is one who resides in a different country from his principal. 1 Term R, 112; 4 Maule & S. 576. A “factor” differs from a “broker” in that he is intrusted with the possession and management of the goods to be sold, while a broker has only an agency to sell, or possession of documents. Story, Ag. § 33. In Maritime Law. A factor was anciently an agent who accompanied the ship, the cargo being consigned for sale, and fie being empowered to purchase a return cargo out of the proceeds. Such an agent is usually called a “supercargo.” Beawes, Lex. Merc. 44, 47.
Factor in Foreign Legal Encyclopedias
| Link | Description |
|---|---|
| Factor | Factor in the World Legal Encyclopedia. |
| Factor | Factor in the European Legal Encyclopedia. |
| Factor | Factor in the Asian Legal Encyclopedia. |
| Factor | Factor in the UK Legal Encyclopedia. |
| Factor | Factor in the Australian Legal Encyclopedia. |
For starting research in the law of a foreign country:
Browse the American Encyclopedia of Law for Factor
Scan Factor in the appropriate area of law:
| Link | Description |
|---|---|
| Factor | Factor in the Family Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the IP Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Commercial Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Criminal Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Antritrust Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Bankruptcy Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Constitutional Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Tax Law Portal of the American Encyclopedia of Law. |
| Factor | Factor in the and Finance and Banking Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Employment and Labor Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Personal Injury and Tort Portal of the American Encyclopedia of Law. |
| Factor | Factor in the Environmental Law Portal of the American Encyclopedia of Law. |
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| Factor in the Dictionaries | Factor in our legal dictionaries |
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| Factor related entries | Find related entries of Factor |
Legal Issue for Attorneys
An agent employed to sell goods or merchandise consigned or delivered to him, by or for his principal, for a compensation, commonly called “factorage” or “commission.” Paley, Ag. 13; 1 Livermore, Ag. 68; Story, Ag. § 33; Comyn, Dig. “Merchant” (B) ; Malynes, Lex. Merc. 81; Beawes, Lex. Merc. 44; 3 Chit. Com. Law, 193; 2 Kent, Comm. (3d Ed.) 622, note (d) ; 1 Bell, Comm. 385, §§ 408, 409; 2 Barn. & Aid. 143. A domestic factor is one who resides in the same country with his principal. A foreign factor is one who resides in a different country from his principal. 1 Term R, 112; 4 Maule & S. 576. A “factor” differs from a “broker” in that he is intrusted with the possession and management of the goods to be sold, while a broker has only an agency to sell, or possession of documents. Story, Ag. § 33. In Maritime Law. A factor was anciently an agent who accompanied the ship, the cargo being consigned for sale, and fie being empowered to purchase a return cargo out of the proceeds. Such an agent is usually called a “supercargo.” Beawes, Lex. Merc. 44, 47.
Notice
This definition of Factor is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.